Last night I played $5-$5 NL at Zebra. About 2 hours into the game I was down about $300 and had about $300 left in front of me.
I was dealt 77 under the gun. Sometimes I raise with middle pocket pairs, and sometimes I just smooth call. It usually just depends on the circumstances: how loose and aggressive the table is, how deep I am, and my position.
I've read many articles that differ about how to play hands like this, but over the past 3 years I've discovered one thing: you stand more to gain by raising. The reason is simple: you have a chance to pick up the pot even if you miss your set. It's exponentially harder if you merely limp in preflop.
So UTG I raise to $35 with 77. A middle position player reraises to $70. Both of us smooth call.
The flop is J 7 6 and I lead out for $75, a small bet hoping to get action on my set. The middle position player raises all-in for $175 more. I call thinking my sevens are good.
He turns over top set of Jacks.
This is the worst possible scenario for me. I only have 1 out: the case 7.
The house explains to him that he can lock up the pot at 20:1 or $600 to $30 (I would get the $30 back).
He declines the insurance and I spike the case 7 on the turn.
Quad 7s wins the hand.
That lucky break turned my night around, and I won a few more hands eventually booking an $800 profit.
Random thoughts from a lawyer, an accountant, a commodities trader, an ex-Marine and a WSOP Main Event money finisher that don't know as much as they wish they did...